Offering finances exploration of the Canadian company's gold projects
By Devika Patel
Knoxville, Tenn., Oct. 13 - Balmoral Resources Ltd. said it plans a C$3.03 million private placement of stock.
The company will sell 2.75 million flow-through common shares at C$1.10 apiece, a 15.79% premium to the Oct. 12 closing share price of C$0.95.
The deal will be conducted by Canaccord Genuity Corp.
Settlement is expected Nov. 3.
Proceeds will be used for exploration of the company's gold projects
The Vancouver, B.C.-based company explores for precious metals.
| Issuer: | Balmoral Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3,025,000
|
| Shares: | 2.75 million
|
| Price: | C$1.10
|
| Warrants: | No
|
| Agent: | Canaccord Genuity Corp.
|
| Pricing date: | Oct. 13
|
| Settlement date: | Nov. 3
|
| Stock symbol: | TSX Venture: BAR
|
| Stock price: | C$0.96 at close Oct. 13
|
| Market capitalization: | C$63.11 million
|
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